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MasterBrand, Inc. is acquiring Supreme Cabinetry Brands, Inc., a distinguished cabinetry company, from GHK Capital Partners LP for $520 million in cash.
"We are excited to join the MasterBrand family," said Tony Sugalski, Chief Executive Officer of Supreme. "We believe that combining our outstanding service level and craftsmanship with MasterBrand’s resources, scale, and shared commitment to high-quality production will deliver greater value to our customers and consumers."
The acquisition will enable MasterBrand to serve a wider consumer base through an expanded dealer network, enhancing efficiency and effectiveness, thus fostering significant value creation and improved customer and consumer experiences. MasterBrand will benefit from a wider range of premium cabinetry in the robust and appealing kitchen and bath segments. The company will also enjoy a diversified channel distribution, strategically located facilities with growth capacity, and an industry-leading distribution network. These advantages are expected to maximize the value of Supreme's portfolio and elevate the customer service, expertise, and value Supreme delivers.
"The addition of Supreme’s premium kitchen and bath cabinetry to our offering will enable MasterBrand to provide unmatched breadth and service to our customers and consumers, compelling opportunities for our combined teams, and value to our shareholders," said Dave Banyard, President and Chief Executive Officer of MasterBrand. "Supreme’s complementary products will immediately expand MasterBrand’s portfolio and accelerate our strategy, while its nationwide dealer network will enhance our existing footprint and strengthen our ability to deliver high-quality, on-trend products. Importantly, MasterBrand and Supreme share complementary cultures grounded in a commitment to the customer and consumer experience. We look forward to welcoming the Supreme team and working alongside them to unlock the many opportunities presented by this acquisition and advance our purpose of building great experiences together."
The closing of the acquisition is subject to customary closing conditions, including antitrust clearance in the United States, and is expected to be completed during the third quarter of 2024.
Visit www.masterbrand.com and www.supremecabinetrybrands.com for more information.
